Sino-UK ties on Belt and Road perfect fit

JamesSassooncallscomplementaryskillsanda'classicwin-win'forthetwosides

LONDON-ChinaandBritaincanenjoyamutuallybeneficialandadvantageousrelationshipindevelopingtheBeltandRoadInitiative,saidJamesSassoon,chairmanoftheChina-BritainBusinessCouncil.

TheCBBCisanorganizationthatrepresentsBritishbusinessesdoingbusinesswithChinaandChinesebusinessesdoingbusinessinBritain.

Sassoonsaidwhatconcernshiscouncilmostiswhereitsmembershavebusinessopportunitiesandhowtobestsupportthem.

TheirmembershavehistoricallybeenBritishbusinesses,andnowincludeChinesebusinessescomingtoBritain.

"Oneofourroles,whichIthinkweareuniquelydoinginrecentyearsandwillcontinuetodo,islookingatwhattheimportantpoliciesoftheChinesegovernmentareandinterpretingthoseforourmemberssothattheycanmoreeasilyidentifythebusinessopportunitiesthatflow,"Sassoonsaid.

HesaidthetwokeyareasatthemomentaretheBeltandRoadInitiativeandMadeinChina2025.

ChinaproposedtheBeltandRoadInitiativein2013todeveloptradeandculturallinksamongAsia,AfricaandEurope.

ThecountrydescribesMadeinChina2025asanationalstrategytoimprovethemanufacturingindustry-initiallyupto2025andthenonto2035and2049.

TheCBBCinterpretsthegoalastotransformChinaintoaleadingmanufacturingpower,asthecountrystrivestomoveupthevaluechain,toavoidbeingpinchedatoneendbylowercostcountriesandattheotherbyhigher-qualitymanufacturersaroundtheworld.

SassoonsaidthattheBeltandRoadInitiativeisnotonlyaboutprojectsinthird-partycountriesbutalsohasa"veryimportantdomesticChinesecomponentaboutit."

ThistiesinwiththeChina2025initiative,Sassoonsaid,addingthattheCBBCaimstoraisecollaborationbetweenBritishandChinesebusinessestoanewlevel.

"Thereisagreatplanlaidoutastowhichprovinceorcitywilltaketheleadinareasofhigh-endmanufacturing,"hesaid,notingthattheimportantthingis"howdoBritishcompaniesknowinpracticaltermswhereshouldtheygoto".

OntheBeltandRoadInitiative,ajointreportproducedbyCBBCandChina'sTsinghuaUniversityin2016saidChinaandBritainwereworkingtogetheron$21billionworthofprojectsacross10countries.

"ItwasgettingtheUKtothinkaboutthefactitisforreal,itishappeningbetweentheUKandChinaandthirdcountries,andtothinkaboutitinabroadway,notjustnarrowlyintermsofinfrastructureprojects,"saidSassoon.

Usefulstrengths

TheUKhasstrengthsthatareusefultoChinaandcanbenefitfromChina'scertaincapacitieswhenbothsidescollaborate.

SassoonsaidBritainisnotincompetitionwithChinaforconstructionprojectsandthecomplementarynatureofthetwonations'strengthsis"aperfectfit,aclassicwin-win".

"Idon'tbelievethereisanycountrythathassuchawell-balancedandcompletepackageofprofessionalservicesastheUK,"saidSassoon,addingthatmanyprojectsaroundtheworldhavebeencompletedunderBritishlawbecauseitisconsideredthebestchoice

Alsoinarchitectureanddesign,andeducationonstandardsofcompletingprojects,Britainhasalottooffer,Sassoonsaid.

"MycontentionisthatthereisamorecompletesuiteofprofessionalservicesforallaspectsoftheBeltandRoadandotherthirdcountryprojectsthattheUKhastooffer,"hesaid. "Chineseheavyliftingontheengineeringofprojectswiththecompletepackageofservices,fitstogetherbeautifully,"saidSassoon.

"IthinkmanyofthecountriesontheBeltandRoadneedhelpwithdefiningwhattheappropriatestandardsareontheseprojects-thecontracting,theprocurement,theappropriatefinancingstructuresandIthinktheUKhasagreatopportunity."

InSassoon'seyes,BritainisthebestinternationalstandardsetterandcancollaboratewithrelatedcountriesinareaswheretheBeltandRoadInitiativewilloperate,suchasCentralAsia,SoutheastAsiaandAfrica.